FORTUM CORPORATION PRESS RELEASE 17.4.2024  

As part of its efforts to secure and increase the production of clean energy, Fortum has decided to extensively modernise the Malta hydropower plant in Uvån, in the municipality of Hagfors, Sweden. The investment is approximately EUR 20 million (SEK 250 million). 

The Malta hydropower plant was the first plant in Uvån and has been in operation since 1914. It was built to secure the electricity supply to the community of Hagfors. Today, the power plant plays a crucial role in producing clean energy for Swedish households and industries in the area. Fortum’s investment will improve the plant’s lifespan and efficiency, ensuring a continued supply of reliable and sustainable electricity production for the next 50 years. Annual production will increase by 5 GWh to 33 GWh per year, which corresponds to 1,650 electrically heated homes. 

The investment involves an extensive modernisation of the plant. The purpose of an updated and streamlined infrastructure is to enable Malta hydropower plant to better integrate and contribute to regulating the energy supply in a system with an increasing share of weather-dependent energy. With the investment, the plant will contribute even more to the reliability and power of Sweden’s energy system. 

The work is planned to begin in spring 2024 and is expected to be completed in autumn 2026.  

Fortum Corporation 
Communications 

Further information:  
Fortum News Desk, +358 40 198 2843, newsdesk@fortum.com 

 
Fortum  
Fortum is a Nordic energy company. Our purpose is to power a world where people, businesses and nature thrive together. We are one of the cleanest energy producers in Europe and our actions are guided by our ambitious environmental targets. We generate and deliver clean energy reliably and help industries to decarbonise their processes and grow. Our core operations in the Nordics comprise of efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers. For our ~5 000 employees, we commit to be a safe, and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki. fortum.com